Nkcfo LLC Makes New Investment in Cloudflare, Inc. (NYSE:NET)

Nkcfo LLC acquired a new stake in Cloudflare, Inc. (NYSE:NET) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 3,000 shares of the company’s stock, valued at approximately $323,000.

Several other large investors also recently modified their holdings of NET. Hartline Investment Corp grew its holdings in Cloudflare by 7.6% during the 3rd quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock worth $21,062,000 after acquiring an additional 18,426 shares during the period. WIM INVESTMENT MANAGEMENT Ltd acquired a new stake in Cloudflare during the third quarter worth approximately $25,588,000. Charles Schwab Investment Management Inc. increased its holdings in Cloudflare by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock worth $93,656,000 after purchasing an additional 29,960 shares in the last quarter. National Pension Service lifted its stake in Cloudflare by 0.9% in the third quarter. National Pension Service now owns 471,923 shares of the company’s stock valued at $38,174,000 after buying an additional 4,062 shares during the period. Finally, Strategic Blueprint LLC bought a new position in shares of Cloudflare during the 4th quarter worth approximately $265,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Thomas J. Seifert sold 28,635 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $95.03, for a total transaction of $2,721,184.05. Following the completion of the transaction, the chief financial officer now owns 252,869 shares in the company, valued at approximately $24,030,141.07. This represents a 10.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas James Kramer sold 2,481 shares of Cloudflare stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the sale, the insider now directly owns 175,688 shares in the company, valued at approximately $23,131,082.08. This represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 528,970 shares of company stock valued at $59,959,801 in the last ninety days. 12.83% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on NET shares. UBS Group lifted their price objective on shares of Cloudflare from $130.00 to $165.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Citigroup raised shares of Cloudflare from a “neutral” rating to a “buy” rating and lifted their price target for the company from $95.00 to $145.00 in a research note on Friday, January 17th. JMP Securities increased their price objective on shares of Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a research report on Friday, February 7th. Morgan Stanley boosted their target price on Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, Wells Fargo & Company increased their price target on Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $135.28.

Cloudflare Stock Performance

NYSE:NET opened at $170.98 on Friday. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The firm has a 50-day moving average price of $125.30 and a two-hundred day moving average price of $100.31. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Analysts forecast that Cloudflare, Inc. will post -0.04 earnings per share for the current year.

About Cloudflare

Cloudflare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.